Zcash founder joins Shielded Labs and seeks to promote hybrid PoS upgrade

2024/08/12 11:54

Odaily News Zooko Wilcox, founder of the privacy coin Zcash, is looking to accelerate the protocols upgrade to a hybrid proof-of-stake system after joining Shielded Labs as head of product. Shielded Labs is an independent organization based in Switzerland that supports Zcash. Wilcox recently said that after eight years of using PoW mining, Zcash needs to upgrade to a hybrid PoS system. He noted that PoW consensus and the issuance of new coins have put downward pressure on its price, but this pressure is expected to ease as the rate of new coin issuance decreases. The two major upcoming improvements mentioned by Wilcox include the deployment of the Zcash Sustainable Development Fund and the upgrade to Crosslink, a hybrid PoW and PoS protocol. We want to deploy this technology as quickly as possible while maintaining Zcashs good security record, he said. The benefits of the upgrade include allowing ZEC holders to stake, providing finality to protect users from rollback attacks, reducing transaction times, and allowing safer two-way bridges to other networks. However, Wilcox did not elaborate on the technical details or provide a timeline for the upgrade. (Cointelegraph)

原文链接
Latest news
17:55
Binance Alpha to List Giants Protocol (G) on July 11
17:51
Delin Holdings Group is expected to become the first licensed securities firm in Hong Kong, and plans to put physical assets worth up to HK$500 million on the blockchain
17:39
Binance Wallet Exclusive TGE to List Velvet (VELVET)
17:34
Emirates Airlines Signs MoU with Crypto.com to Integrate Crypto.com Pay as a Customer Payment Option
17:30
A whale sold 1.07 million Fartcoin and bought 4.4 million USELESS
Recommended Reading